Costa Rica
-
Longer maturity plays into sovereign’s IMF-mandated strategy to substitute expensive local debt for external funding
-
Dominican Republic could be on the cards for LatAm supra after debuts in Paraguay, Costa Rica
-
Sovereign offered no concession on long-awaited bond return
-
-
Recent dip in sentiment is not reason for low issuance from Latin America
-
Rare single-B name notches $400m but costs too high for most
-
As a single-B rated credit, Liberty Costa Rica would be an unusual reopener for LatAm corporate bond issues
-
We need to broaden the definition of a greenium beyond new issue pricing metrics
-
-
Fitch loses pessimism as policy continuity expected post-election
-
Terrafort Capital will target LatAm and US institutions
-
Utility notches tighter pricing but small size deters some buyers
-
Costa Rican utility wants to refinance bond maturing in November
-
International bonds issued by El Salvador and Costa Rica are proving to be a sweet spot for EM investors, with the notes extending their rally this week as both countries look closer than ever to signing IMF programmes. But there are risks to the positive credit narratives driving the performance of both sovereigns, analysts warned.
-
Despite funding stresses in certain Latin American countries, bond markets will continue to help the region with its financing needs. For now, this eases the pressure for reform and fiscal consolidation, but issuers must eventually face up to political and social turbulence. Oliver West reports.
-
Costa Rica’s finance ministry said on Monday that it planned to begin discussions over a new $1.75bn IMF programme in the second week of January. But though an agreement would likely drive a rally in the sovereign’s bonds, Fitch Ratings warned it would not remove debt sustainability pressures.
-
Costa Rica’s bonds have fallen this week after the government cancelled a proposed tax hike that it was planning to bring to discussions with the IMF. The bonds could still be vulnerable as analysts say there remain questions over the viability of a programme with the Fund.
-
Government-owned lender Banco Nacional de Costa Rica (BNCR) will use cash to finance a buy-back for a portion of senior bonds maturing in 2023, sources close to the borrower told GlobalCapital on Tuesday.
-
As the highest yielding sovereigns in Latin America — excluding those explicitly on the path to restructuring — bonds from El Salvador and Costa Rica have finally caught a strong bid. But fiscal fundamentals are deteriorating sharply.
-
For yield-hungry bond buyers, Central American sovereigns El Salvador and Costa Rica have proved irresistible in recent days. But as political infighting in both countries hampers fiscal consolidation efforts, fiscal fundamentals could cause creditors concern for years to come.
-
Just two days after completing the country’s largest ever international bond issue, Costa Rica’s finance ministry said it would seek approval for a further $4.5bn of issuance once the new minister takes office at the end of the month.
-
Central American sovereign Costa Rica left some analysts wondering where they would find value in the market after tightening pricing well inside pre-deal expectations.
-
Market participants expect Costa Rica will have little trouble completing a crucial bond issuance next week, with the lack of high yielding sovereign assets in Latin America expected to favour a country that has worked to improve its outlook this year.
-
Latin American bond market participants away from Costa Rica’s proposed $1.5bn cross-border issue said they thought the deal would find strong demand as the Central American nation announced a roadshow amid friendly market conditions on Tuesday.
-
A senior secured bond from Brazilian MV24 Capital performed well on the break on Friday, shrugging off global market concerns, with new issuance from Latin America likely to be limited in the next few weeks.
-
Government-owned Costa Rican lender Banco Nacional de Costa Rica (BNCR) will wrap up a tender offer for its dollar bonds ahead of schedule after the early-bird stage of the buy-back was oversubscribed.
-
Government-owned Costa Rican lender Banco Nacional de Costa Rica (BNCR) is looking to buy back a portion of its shortest-dated international bond.
-
Government-owned Costa Rican lender Banco Nacional de Costa Rica (BNCR) is looking to buy back a portion of its shortest-dated international bond.
-
Bonds issued by central American sovereign Costa Rica rallied as much as four points on Monday after the country's constitutional court gave investors a positive surprise, approving fiscal reform that should improve market confidence in the borrower.
-
Costa Rica’s bond prices are dropping as international bond investors take a pessimistic stance over the likely outcome of a constitutional court verdict on proposed fiscal reforms.
-
A potential Costa Rican colón bond issue is arguably the most eye-catching of a flurry of global local currency transactions planned by Latin American borrowers as bankers say the bull market could hit new heights.
-
Autopistas del Sol, the concessionaire of Costa Rican highway Globalvia Ruta 27, sold $300m of 13.6 year amortising bonds on Wednesday as Latin America new issue markets continue to function despite political turmoil in Brazil.
-
Autopistas del Sol, the concessionaire of Costa Rican highway Globalvia Ruta 27, sold $300m of 13.6 year amortising bonds on Wednesday as LatAm new issue markets continue to function despite political turmoil in Brazil.
-
Autopistas del Sol, a Costa Rican toll road operator, could price a 13.6 year amortising bond as soon as Wednesday, according to bond investors.
-
Scotiabank de Costa Rica has included Taiwanese lenders in its list of invitees for a $75m two-tranche fundraising, following in the footsteps of many other borrowers from Latin America that are looking to Asia for liquidity.
-
Banco Nacional de Costa Rica (BNCR) sold the first ever high yield green bond from Latin America on Wednesday, jumping on the momentum in a buoyant market provided by Argentina’s jumbo bond comeback.